Successful hotel up for grabs
In the 30.2 million square kilometres that make up Africa, there’s only a few hectares, clumped together, that compete with industrial real estate overseas for being one of the top global draw cards for constant, concentrated investing, and that land is in Midrand.
It’s therefore no wonder that Dean Baldwin of Asset Auctions is so confident that The Executive Hotel, almost in the middle of this investor’s mecca, will sell well.
“Auctioneers often talk about prime when selling property, so much so that it dilutes the impact of the word when it’s use justified in more ways than one, as is the case with The Executive,” he says.
According to Baldwin, leisure and location, particularly the latter, are the biggest selling points of the property they’ll sell next week.
“There’s no mistaking the allure of The Executive,” Baldwin says. “It’s in excellent condition with an existing client base ensuring constant and mushrooming return-business business based on the hotel’s motto of ‘great beds, great food, and excellent value for money’.
“Furthermore, with 104 luxuriously furnished rooms, parking for all, related amenities such as a stylish dining room and bar, it’s become Midrand’s most soughtafter accommodation venue for distinguished guests on business travel and dignitaries attending conferences and expos at Gallagher Estate.”
Baldwin stated that the property’s main point of interest is the fact that it is right across from Gallagher Estate, inarguably one of Africa’s best expo and conferencing venues.
“And that’s just one of the location-boosters,” says Baldwin. “It’s around the corner from Gautrain’s Midrand station, no more than five kilometres from Grand Central Airport, and the N1 between Johannesburg and Pretoria with major intersections like Allandale and New Road that underscores its locational desirability.”
With a major development next to the hotel advertising the availability of executive office space from April 2015, and not forgetting the plush Waterfall Estate development across the highway, it is no wonder that Midrand’s retail yield and future equity has been found to be among the top 10 in the southern hemisphere by several investment research institutions.
“It’s a top investment opportunity and we’re looking forward to finding the best buyer for this property,” says Baldwin.
Information:
> The Executive will be sold on site at 31 Gallagher Avenue on June 25 at 11am.
> For inquiries phone Dean Baldwin at 083-954-3135 or 011-452-4191 or contact him at dean@assetauctions.co.za
